Advanced Markets UK's Strong FY22 Performance: Revenue and Profit Soar

<p dir="ltr">Advanced Markets (UK) Limited, the FCA-regulated unit of the wider Advanced Markets Group, ended the fiscal year 2022 with a turnover of $2.13 million, an increase of more than 64 percent annually. The figure was at $1.29 million in the previous fiscal year.</p><p dir="ltr">The company also turned a net profit of $372,673 last year, significantly higher than the $10,330 in the previous year. However, similar to other years, the company will refrain from paying dividends.</p><p dir="ltr"><a href="https://www.financemagnates.com/tag/advanced-markets/">Advanced Markets</a> provides institutional foreign exchange Liquidity and prime-of-prime services to the Forex and CFDs trading industry. The Group is headquartered in the United States and operates globally with a presence in several jurisdictions.</p><p dir="ltr">Regulations and Market Conditions: Key Factors for the Trading Industry</p><p dir="ltr">"The results for the period were <a href="https://www.financemagnates.com/institutional-forex/advanced-markets-uk-turns-profitable-in-2021-revenue-jumps-13/">in line with the expectations</a> of the directors. The combination of changes in regulation and historical lows in the volatility of the markets slowed the initial growth pattern that they were expecting. However, their long-term commitment remains," the Companies House filing stated.</p><p dir="ltr">"Fiscal year 2023 has started well, and the directors continue to expect positive returns moving forward."</p><p dir="ltr">According to the income statement of the company, its administrative expenses increased to $1.74 million last year from $1.3 million. Although it did not generate any income from "other" sources, its operating profit came in at $374,811. Considering interests, the pre-tax and net profit of the company remained the same at $372,673, an increase of 350 percent year-over-year.</p><p dir="ltr">Expanding Partnerships: Strengthening Industry Presence</p><p dir="ltr">Advanced Markets has partnered with several brokerages in the last few months, providing and enhancing their technology and infrastructure. Most recently, the UAE's Daman Securities <a href="https://www.financemagnates.com/forex/uaes-daman-securities-taps-advanced-markets-to-launch-new-fxcfds-broker/">tapped the services of Advanced Markets</a> to launch a new forex and CFDs brokerage brand, Daman Markets. </p><p dir="ltr">Some other companies that partnered with Advanced Markets in recent months are <a href="https://www.financemagnates.com/forex/news-nuggets-5-june-brokeree-advance-markets-partner-illegal-brokers/">Brokeree Solutions</a> and VertexFX. It also enhanced its offerings by integrating the liquidity from <a href="https://www.financemagnates.com/institutional-forex/advanced-markets-integrates-primexms-xcore-to-boost-liquidity/">PrimeXM's XCore</a> and <a href="https://www.financemagnates.com/forex/advanced-markets-enhances-liquidity-offerings-with-fxcubic-integration/">FXCUBIC</a>.</p>

This article was written by Arnab Shome at www.financemagnates.com.